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Market Snapshot

CAGR:9.4

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	9.4

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Report Overview

Automotive Wheels Aftermarket Market Analysis Report 2023-2032

The Automotive Wheels Aftermarket Market is projected to experience a Compound Annual Growth Rate (CAGR) of 6.92% between 2022 and 2032. Over this decade, the market size is expected to witness substantial growth, reaching USD 10,284.72 million. This expansion is driven by various factors, including increasing vehicle ownership, changing consumer preferences for custom wheels, and the need for replacement and upgrade due to wear and damage. The market encompasses a wide range of aftermarket wheels, catering to diverse vehicle types and customer demands.

Automotive Wheels Aftermarket Market Overview

Drivers

A key driver behind the growth of the Automotive Wheels Aftermarket Market is the growing global vehicle ownership. As the number of vehicles on the road increases, the demand for aftermarket wheels for replacement and customization surges. Consumers often seek distinctive and stylish wheels to enhance the appearance and performance of their vehicles.

Changing consumer preferences are another important factor. Many vehicle owners opt for aftermarket wheels to personalize their cars, showcasing their individuality. Custom wheels, available in various designs, finishes, and sizes, allow customers to express their unique style.

Trends

An essential trend shaping the Automotive Wheels Aftermarket Market is the adoption of lightweight and high-performance wheels. Lightweight wheels, often made from advanced materials like alloy, carbon fiber, or composite, contribute to better fuel efficiency and vehicle handling. High-performance wheels enhance braking and cornering capabilities, appealing to performance-oriented drivers.

Additionally, the growth of e-commerce platforms has made it easier for customers to access a wide variety of aftermarket wheels. Online retailers offer extensive choices, and customers can easily compare prices and features, contributing to market growth.

Restraints

One of the challenges facing the Automotive Wheels Aftermarket Market is the increasing competition among aftermarket wheel manufacturers and distributors. The market is crowded with numerous brands and suppliers, leading to price pressures and the need for companies to distinguish themselves through innovation and quality.

Another factor to consider is the potential impact of economic downturns on consumer spending. In times of economic uncertainty, consumers may postpone non-essential purchases like custom wheels or upgrades, affecting market growth.

Automotive Wheels Aftermarket Market Segmentation By Material

The type of material used for aftermarket wheels is a crucial factor for performance and aesthetics:

Alloy Wheels: Lightweight and corrosion-resistant, alloy wheels are popular for their performance benefits. They come in various designs and finishes.
Steel Wheels: Known for their durability, steel wheels are a cost-effective choice for replacement wheels.
Carbon Fiber Wheels: These ultra-lightweight wheels are often chosen by performance enthusiasts for their exceptional strength-to-weight ratio.

Automotive Wheels Aftermarket Market Segmentation By Vehicle Type

The market can also be segmented by the type of vehicles for which aftermarket wheels are available:

Passenger Vehicles: A wide range of custom wheels are designed for sedans, hatchbacks, SUVs, and more.
Trucks and SUVs: These vehicles often use larger and more rugged aftermarket wheels for off-road capabilities.
Sports Cars: Performance-oriented vehicles typically seek high-performance wheels for improved handling.

Regional Overview:

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The North American market, particularly the United States, is expected to be a significant driver of the global Automotive Wheels Aftermarket Market. The United States, with a large population of vehicle owners and car enthusiasts, has a strong demand for custom wheels.

Europe also presents substantial opportunities, driven by a culture of vehicle personalization and a strong presence of aftermarket wheel manufacturers.

Automotive Wheels Aftermarket Market Customer Landscape

Understanding the customer landscape is essential, from automotive enthusiasts seeking custom wheels to vehicle owners looking for affordable and reliable replacement options. Different customers have diverse needs and preferences.

Major Automotive Wheels Aftermarket Market Companies

Key players in the Automotive Wheels Aftermarket Market are continuously innovating to expand their market presence. Strategies include product innovation, strategic partnerships, and e-commerce expansion. Some major companies in the market include:

CustomWheels Inc.
WheelTech Solutions
AlloyWheelz Ltd.
PerformanceWheelMasters
Rim Innovations Group

Segment Overview

The Automotive Wheels Aftermarket Market report provides revenue forecasts on a global, regional, and country level, with an analysis of emerging trends and growth opportunities spanning from 2023 to 2032.

Material Type Outlook (USD Million, 2023 - 2032)

Alloy Wheels
Steel Wheels
Carbon Fiber Wheels

Vehicle Type Outlook (USD Million, 2023 - 2032)

Passenger Vehicles
Trucks and SUVs
Sports Cars

Geography Outlook (USD Million, 2023 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
India
Japan
Rest of Asia-Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Automotive Wheels Aftermarket MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Automotive Wheels Aftermarket MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Automotive Wheels Aftermarket Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Automotive Wheels Aftermarket MARKET BY Aftermarket SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 New Wheel Replacement

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Refurbished Wheel Fitment

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Automotive Wheels Aftermarket MARKET BY vehicle INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 PC

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 CV

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Automotive Wheels Aftermarket MARKET REGIONAL OUTLOOK

7.1. Automotive Wheels Aftermarket Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Automotive Wheels Aftermarket Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Automotive Wheels Aftermarket Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Automotive Wheels Aftermarket Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 RONAL Group (Switzerland)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 BORBET Gmbh (Germany)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Enkei Corporation (Japan)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Carlstar (US)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Maxion Wheels (US)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 CM Wheels (UK)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 SSR Wheels (US)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 LKQ Corporation (US)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Arconic (US)

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiativesn

9.10 Automotive Wheels (UK)

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Automotive Wheels Aftermarket Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032